Eduard Watson

5 months ago

Ripple seems to be bagging one success after another. The company has been witnessing a lot of achievements this year with more adoption of its products and enhanced recognition.

Also, Ripple has been boosting its digital asset XRP. This was supported by Wietse Wind's XRPL Labs a lot as well, in order to trigger the mainstream adoption of the crypto.

The New World Order

While Ripple CEO Brad Garlinghouse was speaking to Bloomberg in Singapore just recently, he stated that Ripple has already managed to outperform the traditional payments system SWIFT.

On the other hand, he said that he would be happy if both companies could serve the very same goal and be a part of the “new world order”.

The CEO was asked whether he believes that Ripple could one day outperform SWIFT and he said that they are already doing this, says UToday.

He also said that over 100 banks who are still working with SWIFT as well are using Ripple’s tech for sending money across borders and this is helping them see real progress.

Ripple vs. SWIFT

He also mentioned one particular remittance company but did not say which that was. But it has recently begun using Ripple for transferring funds, and he highlighted the fact that the results are the following:

“They have brought down the commission fee for transactions from $20 to $2 for their clients. As an outcome, the firm saw an 800-percent rise in usage overnight,” says the online publication mentioned above.

He also explained that Ripple could deal with issues that SWIFT cannot and said that Ripple is “part of the new world order.”

Ripple has been working hard to overcome the issues that have been plaguing SWIFT because even if the traditional payments system has been used by banks and financial institutions for decades, it was not able to keep up with all the innovations of technology.

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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